Professional
Added to YB: 2024-04-25
Pitch date: 2024-04-23
BIRG.IR [bullish]
Bank of Ireland Group plc
+78.88%
current return
Author Info
No bio for this author
Company Info
Bank of Ireland Group plc provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.
Market Cap
EUR 9.8B
Pitch Price
EUR 8.95
Price Target
N/A
Dividend
5.69%
EV/EBITDA
N/A
P/E
6.94
EV/Sales
N/A
Sector
Banks
Category
dividend
Third Avenue Value Fund Portfolio Holding: Bank of Ireland Group plc
BIRG.IR: Bank of Ireland transformed since 2019 purchase at 0.6x TBV w/ 7.5% ROTE. Irish bank consolidation, wealth mgmt acquisition boosted returns. 2022 ROTE 17% w/ 15% target. Now 1.06x TBV, 7.2x PE (14% earnings yield). Overcapitalized, returning 72% of earnings via dividends & buybacks. Grew earnings, TBV & biz value while returning capital. Similar to Deutsche Bank turnaround.
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